This morning all of the leading energy stocks are under some sharp selling pressure. This sector has lead the major stock market indexes higher since August 2010, this when the Federal Reserve announced its quantitative easing program.
Some of the leading stocks that are trading lower this morning include Chevron Corp.(NYSE:CVX), ConocoPhillips(NYSE:COP), and Devon Energy Corp.(NYSE:DVN). Short term traders can watch for short term intra-day support on DVN around the $87.00 level. The is where scalp traders can look for a quick bounce trade. Please remember that the stock is weak today and the bounce may not last very long.
Nicholas Santiago
InTheMoneyStocks.com
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InTheMoneyStocks.com is a research and consulting company focused on guiding investors, swing traders and day traders to financial success. Their Chief Market Strategists analyze the markets while making calls on everything from stocks to commodities and currencies. Their goal is to not only guide their subscribers but also teach them their proprietary methods leading them to become investing and trading masters.
Nicholas Santiago
